Pensions
Illinois Lawmakers Pass Firefighter Pension Bill Upping Benefits
The move would add $18 million in extra inflation-adjustment benefits for its first year, expanding the liability for the poorly funded plan.
Strategies include global investment grade, high yield, global bank loans, emerging market debt.
The state, facing a big shortfall in its own retirement programs, tries to eke out savings from municipal plans.
Buyout plans were expected to save $423 million, but only saved $13.1 million.
‘Invaluable’ Jose Gonzalez succeeds Kirk Sims, who left for the Texas Teachers’ Retirement System.
State failed to regularly examine 656 public safety plans as required by law.
The 650-plus downstate public funds could merge to lighten retirement funding burden.